Once house contracts have been exchanged, the process of buying or selling a home is almost complete. However, there are still important steps that need to be taken before the keys can be handed over.

The first thing to consider is the completion date. This is the day on which the buyer must pay the remaining balance of the purchase price and the seller must vacate the property. It is important to ensure that all parties agree on the date and that there is enough time for the necessary preparations to be made.

One of the most important tasks to be completed before the completion date is arranging buildings insurance. This is the responsibility of the buyer and should be in place before the exchange of contracts. It is also wise to arrange contents insurance at the same time.

The buyer should also arrange for a final inspection of the property before completion. This is to ensure that the property is in the same condition as when the sale was agreed and that any agreed repairs have been carried out. Any issues should be raised with the seller and dealt with before the completion date.

On the day of completion, the buyer`s solicitor will transfer the purchase price to the seller`s solicitor and the keys will be released. The buyer should ensure that funds are available in their account to cover the purchase price and any associated costs.

After completion, the buyer`s solicitor will register the change of ownership with the Land Registry and send the title deeds to the buyer. The buyer should also arrange for the transfer of utilities and council tax into their name.

In summary, once house contracts have been exchanged, there are still important steps to be taken before completion. These include arranging buildings insurance, arranging a final inspection, ensuring funds are available for completion, and registering the change of ownership with the Land Registry. By following these steps, the process of buying or selling a home can be completed smoothly and successfully.